223 S Lyon Woods #100 · South Lyon, MI 48178

$52,900

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 137 Days on market

Built 2026 Excellent condition ↓ 3% since listing

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as a basketball court, a clubhouse, and community events. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Clubhouse
• Basketball court
• Modern bathroom

Tags

• PREMIUM ENTRY DOORS
• MODERN BATHROOM
• NEW BRAND NAME APPLIANCES
• BASKETBALL COURT
• CLUBHOUSE
• COMMUNITY EVENTS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $53k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $925 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $53k).
• Recommended offer: $47k (12.0% below list) — sets the bar for market timing.
• Cap rate 27.3% vs local median 2.8% in South Lyon — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#46 in MI, #953 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities C-, commute F.
• South Lyon Community Schools (suburban): math 46% / reading 59% proficiency, ranked #74 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 345 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent is only 15% of the median local income ($132k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 137 days — a 12% lower offer ($47k) is reasonable based on typical stale-listing flexibility.

Recommended offer $46,552 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 3.09% ✓
• Cap rate: 27.27%
• Cash-on-cash: 74.93%
• DSCR: 4.33
• GRM: 2.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 74.8%
• Equity multiple: 4.40×
• Total profit: $50,358
• Equity at exit: $7,888

10-year hold

• IRR: 78.5%
• Equity multiple: 9.09×
• Total profit: $119,802
• Equity at exit: $4,574

Cash invested: $14,812 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48178

• Active inventory: 345
• Price-to-rent: 2.7×

Monthly cashflow live

• Estimated rent: $1,633 high
• Mortgage (P&I): −$277
• Tax est. 1.5%: −$66 /mo · $794/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $925

Break-even live

Break-even rent $463

Max offer price $52,900

Occupancy floor 38%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $13,225
• Closing costs: $1,587
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
113 W Liberty St Unit 1 South Lyon, MI	3.0	1.0	1050	$1,700	$1.62	18d	1	0.31mi
249 Brookwood Dr #2 South Lyon, MI	2.0	1.0	1079	$1,475	$1.37	43d	1	0.42mi
200 Brookwood Dr South Lyon, MI	2.0	2.0	1193	$1,672	$1.40	3d	3	0.46mi
425 Donovan St South Lyon, MI	2.0–3.0	1.0	1027	$1,700	$1.66	1d	1	0.58mi
549 Lakewood Dr South Lyon, MI	1.0–2.0	1.0	850	$1,379	$1.62	1d	1	0.82mi
825 W Lake St South Lyon, MI	1.0–2.0	1.0	738	$1,746	$2.36	1d	7	0.96mi

Listing history 15 events

1. 2026-06-16
   days on market $52,900 Active 137 DOM
2. 2026-06-15
   days on market $52,900 Active 136 DOM
3. 2026-06-13
   days on market $52,900 Active 134 DOM
4. 2026-06-13
   days on market $52,900 Active 133 DOM
5. 2026-06-09
   days on market $52,900 Active 130 DOM
6. 2026-06-08
   days on market $52,900 Active 129 DOM
7. 2026-06-07
   days on market $52,900 Active 128 DOM
8. 2026-06-04
   days on market $52,900 Active 125 DOM
9. 2026-06-03
   days on market $52,900 Active 124 DOM
10. 2026-06-02
    days on market $52,900 Active 123 DOM
11. 2026-06-01
    pricedays on market $52,900 Active 122 DOM
12. 2026-05-31
    days on market $52,400 Active 121 DOM
13. 2026-03-10
    price $52,400 477-char remark

    Show marketing remark (477 chars)

    Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as a basketball court, a clubhouse, and community events. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

14. 2026-02-01
    price $53,500 477-char remark

    Show marketing remark (477 chars)

    Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as a basketball court, a clubhouse, and community events. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

15. 2026-01-30
    listed $54,000 Active 477-char remark

    Show marketing remark (477 chars)

    Your brand new 3 bedroom, 2 bathroom home is waiting for you to move in! This comfortable home features premium entry doors, a modern bathroom, as well as new brand name appliances. In the community, enjoy with your friends and family all the amenities we have to offer such as a basketball court, a clubhouse, and community events. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $19,602
• − Mortgage interest: −$2,963
• − Property taxes: −$794
• − Insurance: −$264
• − Repairs & maintenance: −$1,568
• − Management: −$1,568
• − Depreciation: −$1,539
• Taxable income: $10,905
• Est. tax owed @ 24.0%: −$2,617
• After-tax cash flow: $8,481/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 6 photos

Excellent 100/100 None rehab

This brand new 3-bedroom, 2-bathroom home is move-in ready and in excellent condition. It features modern appliances, hardwood flooring, and a clean, well-maintained exterior. Potential buyers and renters will appreciate the home's curb appeal and smart home features.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more potential buyers or renters.
• Both Add a small front porch swing — Can add charm and functionality to the front porch, enhancing both resale and rental value.
• Both Install smart home features — Can increase the home's appeal to tech-savvy buyers and renters, and potentially increase its value in the future.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more potential buyers or renters. ↑
• Both Add a small front porch swing — Can add charm and functionality to the front porch, enhancing both resale and rental value. ↑
• Both Install smart home features — Can increase the home's appeal to tech-savvy buyers and renters, and potentially increase its value in the future. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: South Lyon Community Schools
• NCES district ID: 2632250
• Math proficiency: 46% ▼ -10.00%
• Reading proficiency: 59% ▼ -4.00%
• Median HH income: $71,419
• Composite: 46.86/100
• National rank: #2372
• State rank: #74 of 540 in MI

Livability — South Lyon

• Score: 83/100
• State rank: #46
• US rank: #953

Category grades

Amenities C- Commute F Cost of living A+ Crime A+ Employment A Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Lyon, MI
• County: Oakland County · 1,009,092 people
• City population: 37,789
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 37,789
• Household income: $131,558
• Rent vs Own: 8.8% rent · 91.2% own
• Severe rent burden: 141.0

Population outlook (Oakland County) Hauer SSP2

• Today (2025): 1,335,747 people
• By 2030: 1,375,100 · +2.9%
• By 2040: 1,435,385 · +7.5%
• By 2050: 1,469,250 · +10.0%
• By 2075: 1,531,946 · +14.7%
• By 2100: 1,450,485 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 4% Asian 4% Hispanic / Latino 3% Black 1%
• Common ancestry: Romanian 14% Lithuanian 4% Slovak 4%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 93% English-only · Other Indo-European 2% Other Asian/Pacific 1% Chinese 1%

Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -251.96%
• Current HPI: 197.5122
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

-3.0% since first listed

3 events — show timeline

• 2026-03-10 Price Changed $52,400 Zillow
• 2026-02-01 Price Changed $53,500 Zillow
• 2026-01-30 Listed $54,000 Zillow